5 Cryptocurrency Ready to Bounce Back After This Latest Crash
The cryptocurrency market is currently experiencing yet another crash, with coin prices trading lower due to increased pressure from the broader economy and fears that the Federal Reserve would again raise interest rates.
Several investors wonder if most large-cap coins will test their multi-month lows once more. However, the best investors are now consolidating their holdings and looking for coins that may be ripe for future gains.
This article looks at several cryptocurrencies poised to bounce back after this latest crash.
1. Battle Infinity (IBAT)
IBAT is the best option among coins set to bounce back after this latest crash. The asset is the native token for Battle Infinity, the fantasy sports game which combines blockchain technology with non-fungible tokens (NFTs) and the metaverse.
With its IBAT Premier League, players can form teams out of NFTs representing real-life athletes. The team with the largest points at the end of the season is declared the champion.
The IBAT token from Battle Infinity is impressive, especially for sports enthusiasts. Investors can also buy Battle Infinity, as its developers are incorporating staking this week. As a result, the asset should be a good buy for potential passive income.
IBAT currently trades at $0.0029. The coin’s price dropped by 25.64% in the past week.
2. Tamadoge (TAMA)
TAMA could be an attractive asset as the market looks to recover. Tamadoge is a self-described "play-to-earn Dogecoin" that combines the appeal of blockchain gaming with the sporadic gains of meme coins.
Tamadoge allows players to purchase NFT digital pets. They can groom and battle these pets, earning rewards for victories.
Last week, Tamadoge completed its presale, raising $19 million in under eight weeks despite wider bear market conditions. The developers will now concentrate on listing the TAMA token on centralized exchanges so holders can claim it.
Simultaneously, the full Tamadoge platform should be available before the end of the year. So, investors can buy Tamadoge tokens now for future gains.
3. Lucky Block (LBLOCK)
LBLOCK is the ecosystem token for Lucky Block, an NFT competition and rewards platform.
Investors can buy Lucky Block to access the platform's game ecosystem, with the platform's developers delivering prize pools and competitions to attract customers.
The V2 of LBLOCK, available on centralized exchanges, is currently trading at $0.00054. The coin's value has dropped by 28.9% in the last week.
This should improve the tokenomics of the asset, and the relative scarcity should help to boost its price.
4. Ethereum (ETH)
The Ethereum blockchain, which is appealing to developers and investors, is powered by ETH. The asset is an excellent choice on our list of coins poised to bounce back after this latest crash.
ETH is currently trading at $1,323, a 27.2% decrease from the previous week.
Despite the market downturn, many investors are still lining up to buy Ethereum. The asset is a large-cap coin and, because of its market position, it should be one of the first cryptos to see gains when the market turns bullish.
The Ethereum Merge, which completed the blockchain's transition to the Proof-of-Stake (PoS) consensus mechanism, has also piqued the interest of investors.
This transition is expected to be a major catalyst for growth in the ETH price once the market recovers by introducing a deflationary model for ETH and making the Ethereum blockchain more functional.
5. Cardano (ADA)
ADA, the Cardano blockchain's native token, rounds out the list of cryptocurrencies poised to bounce back after this latest crash.
Other blockchain protocols have long overshadowed ADA and Cardano, but Cardano developers have been committed to making the platform more developer friendly.
Vasil is a blockchain fork expected to improve transaction speed and lower the cost of ADA-based transfers.
Vasil will be implemented this week after months of delays. Like the Ethereum Merge, it could catalyze an increase in the price of ADA.
ADA currently trades at $0.4419, a drop of 15.38% in the past week.